Beam Global (Nasdaq: BEEM), the San Diego company that makes EV charging and energy storage infrastructure, has signed an agreement to buy ScoutDI AS, a Norwegian private company that supplies drones and planning, analysis and reporting software to industrial inspection service providers in the oil and gas and maritime sectors. Beam entered the Share Sale and Purchase Agreement on Oct. 6, 2026, and reported it in a Form 8-K dated Oct. 7. The base purchase price is $24,000,000, subject to post-closing adjustments for cash, debt, working capital and transaction expenses, and the sellers can earn more if ScoutDI hits revenue targets. The deal has been signed but has not closed. If closing has not happened by Wednesday, Nov. 4, 2026, either Beam or the sellers' representative can terminate the agreement, unless the two sides agree to extend that date.
Beam signed with the ScoutDI shareholders named in the agreement, with Husteli AS acting as the sellers' representative. Beam would buy all of ScoutDI's issued and outstanding shares, and ScoutDI would become a wholly owned subsidiary.
The September letter of intent
Fourteen days before the signing, on Sept. 22, 2026, Beam announced a non-binding letter of intent to acquire an unnamed European drone company in a press release filed as Exhibit 99.1 to a Form 8-K. The release described that company as vertically integrated, developing, manufacturing and selling drones along with proprietary AI-enhanced software. It said the agreement, once finalized, "is expected to evolve Beam Global into a vertically integrated drone and AI-enhanced drone software company." At the time, the deal was still subject to due diligence, negotiation of definitive agreements and closing conditions.
In the release, Beam said the target had a drone product with "Conditional Approval" from the U.S. Department of War. That approval stays in effect only if the company complies with its U.S. onshoring plan and passes updated government vetting of the product. Beam said a drone product of the target had also been exempted from the FCC's Covered List because of the Conditional Approval, which allows those drones to be sold in the U.S. Beam said it intends to build the drones in its existing factories in the U.S. and Europe after the acquisition is completed.
The release also tied the plan to Beam's own work. Beam said it has made battery systems for unmanned aerial, ground and marine platforms for ten years, and that its own customers include the U.S. Army, U.S. Marine Corps, U.S. Navy, the U.S. Department of War and the British Ministry of Defence. It described its patented BeamFlight product as a way to recharge drones remotely without grid infrastructure or traditional generators. CEO Desmond Wheatley said in the release: "This planned acquisition will be, in my view, one of the most significant strategic advances in our company's history... All we have lacked is a proven drone platform and we now intend to change that."
How the $24 million is structured
Under the 8-K, 10% of the base price is paid in Beam common stock, valued at the volume-weighted average price for the five trading days ending the trading day before signing. The other 90% is paid in cash, and 15% of the base price goes into escrow for 18 months to secure the sellers' obligations. Sellers may choose to take more shares instead of cash, but share issuances are capped at the number Beam can issue without stockholder approval under Nasdaq Listing Rule 5635, with any excess paid in cash. Beam expects to issue the shares to non-U.S. persons under Regulation S. In the filing's risk language, Beam lists its ability to fund the cash consideration among the risks to completing the deal.
The earn-out is based on ScoutDI's revenue for fiscal 2026 and fiscal 2027, and each seller can take it in cash or Beam shares, subject to the share cap:
| Earn-out period | Revenue condition | Payment |
|---|---|---|
| Fiscal 2026 | Below $3.5M | Nothing |
| Fiscal 2026 | $3.5M to $3.8M | 10% of a $2.4M target at $3.5M, rising on a straight line to 100% at $3.8M |
| Fiscal 2026 | Above $3.8M, up to $4.5M | An extra $2 for each $1 of revenue; maximum 2026 earn-out of $3.8M |
| Fiscal 2027 | Above $4.0M | $2 for each $1 of revenue above $4.0M, subject to the agreement's terms and limitations |
What still has to happen
Closing depends on customary conditions, including Beam's receipt of the ScoutDI financial statements it needs for its SEC reporting and the absence of a material adverse effect on ScoutDI. Before closing, the agreement can also be terminated by mutual written agreement, or by either side if the other commits a material breach that is not cured.
Beam has separately scheduled its stockholder meeting. An 8-K dated Oct. 15 set the 2026 annual meeting for Thursday, Dec. 17, 2026, at 9:30 a.m. Pacific time at the company's offices, 6370 Nancy Ridge Drive, Suite 105, in San Diego. The record date, the close of business on Oct. 19, 2026, has passed. Stockholders who plan to solicit proxies for director nominees other than the company's must give notice under Rule 14a-19 by Oct. 25, 2026, and proposals for the company's proxy materials under Rule 14a-8 are due by the close of business on Oct. 26, 2026.
Where Beam sits
The September release described Beam as a provider of infrastructure for "energy storage and security, electrification of mobility, and smart city infrastructure," with a focus that includes "rapidly deployed and scalable EV charging solutions." Beam is headquartered in San Diego and has facilities in Yuma, Arizona; Broadview, Illinois; Belgrade and Kraljevo, Serbia; and Abu Dhabi. The ScoutDI agreement would add a drone and inspection-software business to that mix.
What It Means for Drivers
The agreement covers drones and inspection software sold to industrial customers, and BeamFlight, the off-grid recharging product Beam linked to the deal, recharges drones rather than passenger vehicles. Fleet managers, municipalities and site hosts who buy or run Beam's EV charging equipment are not parties to the deal. Whether it closes, is extended or is terminated will be reported in Beam's 8-K filings on SEC EDGAR, which is also where any change to the company's charging business would be disclosed.
Sources
- Beam Global press release, Exhibit 99.1 to Form 8-K: "Beam Global Enters LOI to Acquire European Drone Technology Company" (Sept. 22, 2026)
- Beam Global Form 8-K: Share Sale and Purchase Agreement for ScoutDI AS (event Oct. 6, 2026; dated Oct. 7, 2026)
- Beam Global Form 8-K: 2026 annual meeting date (Oct. 15, 2026)
